Pop tags when I'm paranoid, cause the pawn shop was my paradise

This indicates the contrast of how Pusha’s life has changed — he juxtaposes the present and his past.

Popping tags when he’s paranoid refers to taking the tags off of new clothing, he does it to lower his anxiety levels. Which he’s doing alot of lately, sporting brands like En Noir and Givenchy. This represents the present, the feeling is good.

He then delves into his past where he would frequent pawn shops — most likely to sell goods but nevertheless, it gives the effect that he wasn’t as well of as he is now. He doesn’t need the pawn store anymore — he’s made enough money from drugs, Play Cloths and his rap career.

As noted in Pusha’s explanation: there is a lot of alliteration: Pop, paranoid, pawn, paradise.